Protection

Protection

Choosing the right protection for you and your family can depend upon a number of factors. We have included the information in this section of our site to give you a basic understanding of what is available.

Please contact us for professional advice following fair analysis so that you can enjoy peace of mind knowing that you and your family are adequately protected.

All the plans outlined below have no cash in value at any time, and will cease at the end of the term. If premiums are not maintained, then cover will lapse.

Most people have two main protection needs that can be covered by life insurance:

Family Protection, where you leave behind money for your family to live on after you've gone.
Mortgage Protection, where you provide a lump sum for example to pay off a large debt such as a mortgage.

The simplest type of life insurance is called term insurance. With term insurance you choose the amount you want to be insured for and the period for which you want cover. If you die within the term, the policy pays out to your beneficiaries. If you don’t die during the term, the policy doesn’t pay out and the premiums you’ve paid are not returned to you.

There are two main types of term assurance to consider – level term and decreasing term insurance.

Terminal Illness cover

Policies usually include Terminal Illness cover – it doesn’t cost any extra, and benefit can be claimed if you are unlikely to survive a terminal illness for more than 12 months.

Optional Benefits

Some policies have optional benefits, which are extra sorts of cover, added on to the principal life cover. Such benefits include:

  • Waiver of premium benefit – the policy premiums are paid for you in the event of defined incapacity due to illness.
  • Mortgage payment protection benefit – this helps to pay your mortgage and related costs if you cannot work because of illness or injury.
  • Critical illness cover  the benefit is paid before death on the diagnosis of a potentially life threatening disease (e.g. cancer). This benefit may replace the death benefit, or it may be paid as well. Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy documents if you go ahead with a plan.

These options involve an additional premium and are only paid subject to meeting specific criteria.

Critical illness cover can also be set up as a stand alone plan, separate from the principal life cover.

Income Protection

In addition, we can advise on and offer Income Protection plans, where your income can be protected against long term accident, sickness or disability until either the end of the mortgage term or until your normal retirement age.

Income protection plans that have no investment link have no cash in value at any time and will cease at the end of the term. If you stop paying your premiums your cover will end.

We can offer expert, independent advice following a full review of your circumstances to ensure you find a solution that meets your requirements and provides peace of mind for you and your family.

Still paying too much?

We can also check that any existing protection policies you may have are still offering value for money.

Policies taken out some years ago may now involve uncompetitive premiums.

We may be able to offer you the same (or better) cover at a lower monthly premium. Please contact us for a free initial no-obligation protection review.

Call Us Today

Please call FREEPHONE 08000 196 194 and ask for a full review of your protection requirements.

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